Strategy could own over 1 million BTC by 2033 – Bernstein
Bernstein believes Strategy, formerly known as MicroStrategy, could amass more than 1 million Bitcoin (BTC) by 2033 in a bullish market cycle, Benzinga reported on March 26, citing a research note.
The projection issued by Bernstein analysts, outlines two vastly different paths for the company depending on macroeconomic conditions and Bitcoin’s long-term price trajectory.
Bull vs. bear scenario
In the optimistic scenario, Strategy would expand its holdings from the current 506,137 BTC to 1,013,000 BTC — approximately 5.8% of Bitcoin’s current circulating supply — assuming Bitcoin climbs to $200,000 by late 2025, $500,000 by 2029, and hits $1 million by 2033.
To fund that level of accumulation, Strategy would likely rely on continued access to capital markets, potentially increasing its total debt tenfold to $100 billion while raising $84 billion in equity.
The analysts emphasized that this trajectory hinges on low interest rates and strong investor demand.
In contrast, the bear case suggests a more constrained future. If Bitcoin reaches a local peak in 2025 and then enters a prolonged downturn, Strategy’s BTC holdings may level off near 514,800 BTC — just 2.6% of supply.
This would force the firm to halt further acquisitions and possibly liquidate part of its treasury to manage debt and dividends. Under this base-case model, debt would rise to $51 billion.
Outperform rating maintained
Despite the risk, Bernstein reaffirmed an “outperform” rating on Strategy and set a $600 price target — representing a 75% upside from current levels
The firm’s valuation model applies a 2x EV/sales multiple on the software segment and a 55% premium on its Bitcoin reserves, a figure in line with its average market premium since pivoting to BTC.
Strategy’s latest purchase — 6,911 BTC for $584.1 million between March 17 and March 23 — further entrenched its commitment to Bitcoin, lifting its total holdings beyond the 500,000 BTC mark.
The company now owns more BTC than any other publicly traded entity, drawing interest from retail and institutional investors alike.
Bernstein’s analysis signals continued institutional interest in Strategy’s leveraged exposure to Bitcoin. The firm’s approach remains a defining example of how corporate balance sheets are being restructured around Bitcoin.
The post Strategy could own over 1 million BTC by 2033 – Bernstein appeared first on CryptoSlate.
Read More
Binance Freezes Market Maker’s $38,000,000 Profits After Dumping MOVE Tokens on Retail Traders
Binance has banned another market maker and frozen its assets after identifying certain irregularities.
The top global crypto exchange didn’t identify the market maker but noted that it operated for the Ethereum (ETH)-based layer-2 project Movement (MOVE).
Movement uses Move, a programming language originally built by a consortium backed by tech giant Meta for the now-defunct Diem project. The language was then used to develop layer-1 blockchains Sui (SUI) and Aptos (APT).
The project’s native token launched via Binance’s Airdrops Portal in December, but the exchange says that after MOVE was listed, the now-banned market maker sold approximately 66 million MOVE tokens on December 10th, with few buy orders. The market maker ended up netting a profit of $38 million worth of the stablecoin USDT before being offboarded last week.
Binance notified the Movement teams and froze the market maker’s proceeds to compensate users.
The exchange also notes the market maker was associated with another entity it banned earlier this month. The name of the other banned market maker also wasn’t disclosed, though Binance said it operated as a liquidity provider for the decentralized security layer GoPlus Security (GPS) and the AI consumer project MyShell (SHELL).
MOVE is up nearly 24% in the past 24 hours. The 77th-ranked crypto asset by market cap is trading at $0.546 at time of writing.
Follow us on X, Facebook and TelegramDon't Miss a Beat – Subscribe to get email alerts delivered directly to your inbox
Check Price Action
Surf The Daily Hodl Mix
Disclaimer: Opinions expressed at The Daily Hodl are not investment advice. Investors should do their due diligence before making any high-risk investments in Bitcoin, cryptocurrency or digital assets. Please be advised that your transfers and trades are at your own risk, and any losses you may incur are your responsibility. The Daily Hodl does not recommend the buying or selling of any cryptocurrencies or digital assets, nor is The Daily Hodl an investment advisor. Please note that The Daily Hodl participates in affiliate marketing.
Generated Image: Midjourney
The post Binance Freezes Market Maker’s $38,000,000 Profits After Dumping MOVE Tokens on Retail Traders appeared first on The Daily Hodl.
Read More
